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Justice dept. requires Realpage end sharing competitively sensitive information

nothercastle

They might not share info but they will regenerate identical suggestions from market data for ask customers effectively price fixing without clear collusion

ImPostingOnHN

There seems to be nothing preventing YieldStar's actual business model:

1. Pick a rental rate. This can be based on public data, nonpublic data, or totally made-up.

2. "Strongly encourage" your users/customers to use the rate you picked.

3. 90% of your users/customers agree (historically speaking), legal collusion achieved.

jeffbee

I think it's a positive step for American housing market to slowly check off the list of pointless non-solutions so that we can finally arrive at the conclusion that the only way out of the crisis is to build housing. We're just following the San Francisco process here. Ban realpage. Tax vacancies. Complain about foreign investors. Put a tax on "mansions" that's actually a tax on apartment buildings. We will slowly, slowly check off all the boxes of the pointless things. Then 50 years later we can start building houses.

umanwizard

You skipped “ban Airbnbs” as NYC did (to no effect other than making it more difficult for people who live there to have friends come visit them).

empath75

I think this is good, but I doubt it'll actually impact rental prices as much as people think, because the problem is fundamentally a housing shortage.

novia

The problem is fundamentally a housing shortage AND RealPage recommended to large rental operators that they leave apartments empty. So they definitely did actually pour gasoline on the fire.

jeffbee

Landlords are completely capable of leaving units vacant all by themselves and there isn't any evidence that realpage clients were more likely to do that.

novia

My source was this article which broke the RealPage story three years ago:

https://www.propublica.org/article/yieldstar-rent-increase-r...

> For tenants, the system upends the practice of negotiating with apartment building staff. RealPage discourages bargaining with renters and has even recommended that landlords in some cases accept a lower occupancy rate in order to raise rents and make more money.

...

> Apartment managers can reject the software’s suggestions, but as many as 90% are adopted, according to former RealPage employees.